GBP/USD is trading at 1.41591, 0.08% up since Tuesday. The mixed USD ahead of the result of U.S NFP data later in this week turned out to be crucial for its counterpart currencies. The U.K’s BRC Shop Price Index fell by 0.6% lower than previous figure 1.3% which made Sterling Pound to trade slightly positive. The momentum widely depends upon the Money Supply & Net Lending to Individuals data release which is to be due today. Globally, uncertain outlook towards U.S monetary policy & QE tapering talks in next FOMC meeting remains significant for GBP/USD. The current MA (10) & MA (20) levels acts as a major support & hence, make or break situation may be noticed further.

WTI Oil is trading at $67.84, 0.42% up since Tuesday. The OPEC & allies agreed to gradually increase the Oil production level form the month July as promised earlier which boosted the prices on Wednesday. Besides this, the soft USD amid upcoming NFP data & uncertain FOMC monetary outlook makes the dollar-denominated commodities like WTI oil more expensive. The chances of revival of the Iranian nuclear deal with U.S contributed a buying in WTI Oil. The result of API report will remain in focus for the day since it will show the changes in Oil stocks level against last week. As seen in the chart, the Oil crossed an upper trend-line of ascending triangle pattern & hence, buying on lower side may be recommended.

US30 is trading at 34562.6, 0.20% up since previous day close. The U.S shares inches on Wednesday post release of ISM Manufacturing PMI data which climbed to 61.2 from 60.7 in the previous month. This indicates an improvement in industrial activities amid Covid-19 vaccine roll-outs. However, uncertainty looms over Fed QE tapering talks & monetary policy in the next meet which remains crucial for US30. The result of Services PMI figures & Non-farm Payroll data will be closely monitored for the week. As seen in the chart, the index is strongly taking a support of MA (10) & MA (20) & is also, hovering within a bullish channel pattern. The RSI line is trading above the mid-level 50 indicating the chances of buying bias on daily basis.